Sumitomo Mitsui Trust Group Inc. Sells 161,415 Shares of Trimble Inc. $TRMB

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,455,001 shares of the scientific and technical instruments company’s stock after selling 161,415 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.45% of Trimble worth $282,101,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in shares of Trimble during the 4th quarter worth approximately $211,000. Empowered Funds LLC lifted its stake in Trimble by 9.5% in the first quarter. Empowered Funds LLC now owns 7,023 shares of the scientific and technical instruments company’s stock valued at $461,000 after purchasing an additional 607 shares during the last quarter. Woodline Partners LP grew its holdings in Trimble by 41.6% during the first quarter. Woodline Partners LP now owns 20,766 shares of the scientific and technical instruments company’s stock valued at $1,363,000 after purchasing an additional 6,100 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in Trimble by 46.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,345 shares of the scientific and technical instruments company’s stock worth $178,000 after buying an additional 747 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Trimble by 76.6% in the second quarter. Parallel Advisors LLC now owns 3,363 shares of the scientific and technical instruments company’s stock valued at $256,000 after buying an additional 1,459 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRMB shares. JPMorgan Chase & Co. increased their price target on Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Berenberg Bank set a $95.00 target price on shares of Trimble and gave the stock a “buy” rating in a research report on Friday, October 3rd. Oppenheimer reissued an “outperform” rating and issued a $102.00 price target on shares of Trimble in a research report on Thursday, November 6th. KeyCorp raised shares of Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a report on Monday, December 15th. Finally, Wells Fargo & Company initiated coverage on shares of Trimble in a report on Thursday, November 13th. They set an “overweight” rating and a $94.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.78.

Insider Transactions at Trimble

In other Trimble news, Director Kaigham Gabriel sold 1,718 shares of Trimble stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $81.00, for a total transaction of $139,158.00. Following the transaction, the director directly owned 15,170 shares of the company’s stock, valued at approximately $1,228,770. This trade represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Calvin Dalton sold 616 shares of Trimble stock in a transaction on Friday, November 28th. The stock was sold at an average price of $81.99, for a total transaction of $50,505.84. Following the completion of the transaction, the director owned 13,193 shares in the company, valued at approximately $1,081,694.07. The trade was a 4.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,584 shares of company stock worth $1,577,351 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Trimble Trading Up 0.2%

Shares of Trimble stock opened at $80.80 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.86. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50. The firm has a market cap of $19.22 billion, a PE ratio of 55.34, a PEG ratio of 2.81 and a beta of 1.59. The company has a 50 day simple moving average of $79.91 and a two-hundred day simple moving average of $80.50.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $856.50 million during the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. Trimble has set its FY 2025 guidance at 3.040-3.120 EPS and its Q4 2025 guidance at 0.910-0.990 EPS. Analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Trimble declared that its Board of Directors has approved a share buyback program on Friday, December 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Trimble

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.